Commonwealth Consolidated Acts

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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 276.25

Starting income year

                   In this Division:

starting income year means:

                     (a)  unless paragraph (b) or (c) applies--the 2017-18 income year; or

                     (b)  if the trustee of the trust has made a choice for the purposes of paragraph 1(1)(b) of Schedule 8 to the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 --the first income year starting on or after 1 July 2015; or

                     (c)  if the trustee of the trust has made a choice for the purposes of subparagraph 276-10(1)(e)(i) of the Income Tax Assessment Act 1997 in respect of the 2016-17 income year--that income year.

Table of sections

276-700    Application of Subdivision to MIT that becomes AMIT

276-705    Accounting for unders and overs for base years before becoming an AMIT



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